Insurance companies offer a variety of policies to cover different types of incidents that may affect a person's life and/or livelihood. Types of insurance include: long term care access, life insurance, disability income insurance, homeowner's insurance, supplemental hospital indemnity insurance, mortgage insurance, automotive insurance, and others. The sheer variety of insurance makes it difficult for a client to determine which policies to purchase.
These different insurance types are generally sold either alone or in small groups by different companies. Each of these companies has its own overhead expenses, marketing and sales expenses, and underwriting costs. Additionally, each insurance company typically underwrites a different policy for each insurance purchase, even when purchasing a subsequent policy for the same type of insurance coverage. This practice is inefficient for insurance companies and costly for consumers. As such, there remains a need for systems and methods to provide insurance to consumers in an efficient and cost-effective manner.